Motorola will acquire Symbol Technologies Inc. for $3.9 billion. Symbol designs, develops, manufactures and services products and systems used in end-to-end enterprise mobility solutions including rugged mobile computing, advanced data capture, radio frequency identification (RFID), wireless infrastructure and mobility management.
"Everything is going digital, and everything digital is going mobile -- this is especially evident in the way businesses are run today. Motorola and Symbol share the same vision of a digital, mobile world for enterprises that matches the world people enjoy at home and at play," said Motorola CEO, Ed Zander. "This transaction significantly advances Motorola's enterprise mobility strategy and is consistent with our focus on building on our already strong intellectual property portfolio and extending Motorola's seamless mobility leadership. We are confident that this transaction will create significant value for stockholders by establishing a strong presence for Motorola in attractive adjacencies with enormous potential for sustained growth."
Symbol will become a wholly owned subsidiary of Motorola and will be the cornerstone of Motorola's Networks and Enterprise business according to a statement released by the companies. Motorola will maintain Symbol's Holtsville, N.Y. headquarters, which will be the core of Motorola's global enterprise mobility business and serve as a center of excellence.
